Kazakh Development Bank Says It May Issue Islamic, Samurai Bonds

The Development Bank of Kazakhstan, a state-owned lender that promotes industry, is preparing to issue Islamic and Samurai bonds in 2012 to “diversify its loan portfolio and implement new financial instruments.”

The bank expects to offer $862 million in loans to finance Kazakhstan’s industrial projects this year, according to a statement posted on its website on Feb. 3.

The lender will carry on helping to finance projects which are a part of the state program of industrial development, including projects such as the upgrade of the Atyrau refinery, Chief Executive Officer Nurlan Kusainov said in the statement.

To contact the reporter on this story: Svetlana Antoncheva in Astana, Kazakhstan at santoncheva1@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

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